PROVIDENCE, R.I.--(BUSINESS WIRE)--Citizens Financial Group, Inc. (NYSE: CFG) today announced the pricing of a senior unsecured note offering by Citizens Bank, N.A. (the “Bank”) of $750 million aggregate principal amount of 2.500% senior unsecured notes due March 14, 2019 at an issue price of 99.989% (the “Senior Notes”).
The Senior Notes, which will further diversify CBNA’s funding sources, are being offered under the Bank’s $5.0 billion Global Bank Note Program. The offering is expected to close on March 14, 2016, subject to customary closing conditions. The Bank intends to use the net proceeds of the Senior Notes offering for general corporate purposes.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Credit Suisse Securities (USA) LLC are acting as joint bookrunners for the Senior Notes offering.
The Senior Notes are not deposits and are neither insured nor approved by the Federal Deposit Insurance Corporation or any other government agency, and are subject to investment risk, including the possible loss of principal. The Senior Notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) and are being offered pursuant to an exemption from registration under the Securities Act provided by Section 3(a)(2) thereof. A purchaser of the Senior Notes, in making a purchase, will be deemed to have represented and agreed that it is an institution that is an accredited investor within the meaning of the SEC's Rule 501(a) under the Securities Act, that it is purchasing the Senior Notes for its own account or the account(s) of one or more other investors that are accredited investors and that it, or each of the other accredited investors, owning a beneficial interest in a Senior Note will hold an undivided beneficial interest in a principal amount of not less than $250,000 at all times.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, the Senior Notes, nor shall there be any sale of the Senior Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Citizens Financial Group, Inc.
Citizens Financial
Group, Inc. is one of the nation’s oldest and largest financial
institutions, with $138.2 billion in assets as of December 31, 2015.
Headquartered in Providence, Rhode Island, Citizens offers a broad range
of retail and commercial banking products and services to individuals,
small businesses, middle-market companies, large corporations and
institutions. In Consumer Banking, Citizens helps its retail customers
“bank better” with mobile and online banking, a 24/7 customer contact
center and the convenience of approximately 3,200 ATMs and approximately
1,200 Citizens Bank branches in 11 states in the New England,
Mid-Atlantic and Midwest regions. Citizens also provides mortgage
lending, auto lending, student lending and commercial banking services
in select markets nationwide. In Commercial Banking, Citizens offers
corporate, institutional and not-for-profit clients a full range of
wholesale banking products and services including lending and deposits,
capital markets, treasury services, foreign exchange and interest
hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A. and
Citizens Bank of Pennsylvania. Additional information about Citizens and
its full line of products and services can be found at www.citizensbank.com.
Cautionary Statement About Forward-Looking Statements
This
news release contains forward-looking statements within the Private
Securities Litigation Reform Act of 1995. Any statement that does not
describe historical or current facts is a forward-looking statement.
These statements often include the words “believes,” “expects,”
“anticipates,” “estimates,” “intends,” “plans,” “goals,” “targets,”
“initiatives,” “potentially,” “probably,” “projects,” “outlook” or
similar expressions or future or conditional verbs such as “may,”
“will,” “should,” “would,” and “could.” Forward-looking statements are
based upon the current beliefs and expectations of management, and on
information currently available to management. Our statements speak as
of the date hereof, and we do not assume any obligation to update these
statements or to update the reasons why actual results could differ from
those contained in such statements in light of new information or future
events. We caution you, therefore, against relying on any of these
forward-looking statements. They are neither statements of historical
fact nor guarantees or assurances of future performance. More
information about factors that could cause actual results to differ
materially from those described in the forward-looking statements can be
found under “Risk Factors” in our Annual Report on Form 10-K filed with
the United States Securities and Exchange Commission on February 26,
2016.
CFG-IR
